Chris Hughes, Columnist

GameStop's $56 Billion eBay Tilt Has Some Tricky Fine Print

May 15, 2026 at 11:30 AM UTC

Chris Hughes is a Bloomberg Opinion columnist covering deals. Previously, he worked for Reuters Breakingviews, the Financial Times and the Independent newspaper.

First Day Of Trading For 2025 At The NYSE And NASDAQ — Photographer: Michael Nagle/Bloomberg

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GameStop Corp.’s $56 billion takeover approach for online auctioneer eBay Inc. was blatantly far-fetched on first look. Wait till you get into the fine print.

EBay delivered its expected rejection of the meme stock’s audacious proposal this week. To buttress its skepticism, the tech company’s board released a letter from GameStop lender TD Securities voicing confidence in raising $20 billion of debt for the mooted offer. This confirmed reports that TD’s optimism depends on the combination commanding an investment-grade credit rating.